Google Inc. on Monday confirmed a deal to buy online-ad company Admeld Inc. as the technology giant bolstered its offerings for selling graphical and interactive ads.
Financial terms weren't disclosed. But people familiar with the matter put the deal value at roughly $400 million.
The acquisition, if it wins regulatory approval, would be Google's sixth-largest to date and is expected to help the company expand its display-advertising efforts. Google hopes that business can grow to rival its core Web-search ad business, which generated nearly $30 billion in revenue last year.
Google began talking to the three-year-old Admeld around January, a person familiar with the matter has said. TechCrunch last week reported Google had bought Admeld for $400 million.
Admeld helps large websites sell advertising and is known as a "supply-side platform" company. It would help Google obtain ad inventory—space on Web pages where ads could appear—from some of the top publishers of online content, including Thomson Reuters Corp. and News Corp. Those media sites let Admeld manage lower-priced inventory that they can't sell themselves, giving them tools to control who buys it and whether it should be sold to lots of advertisers or to a more select group. News Corp. also owns The Wall Street Journal.
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